Today investors and traders will expect the NFP data from USA at 14:30 GMT+2. Higher volatility is expected. The forecast is for 175K new jobs created and previous 156K.
Most analysts expect a 173K new job for this month.
The year average is 178K jobs which makes it normal to expect a number around this value.
Charts are a confirmation of the analyst expectations, as last month data was below 4 moving average and the trend for the year is downward. This confirms the expectations for lower than forecast data.
Matthew hurricane is additional circumstance to consider a lower than expected data, as Morgan Stanley analysts calculate the effect at 10 000 jobs shave.
The ADP NFP data from Wednesday came below expectations which is another reason supporting the expectations for lower reading today.
If the data is below the expectations for 175K this will have negative impact over the US dollar, which is under high pressure after the increased likelihood for Trump to become president.
On the other hand surprising data above expectations will support dollar and will lead to USD appreciation.
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